First Swiss Mobility 2020-1 AG issues asset-backed notes arranged by Credit Suisse
Niederer Kraft Frey advised Credit Suisse AG as Arranger and Credit Suisse AG together with Zürcher Kantonalbank as Joint Bookrunners and Joint Lead Managers in connection with the issuance by First Swiss Mobility 2020-1 AG of CHF 183,000,000 0.000 per cent. asset-backed Class A Notes due 2029, CHF 12,100,000 0.500 per cent. asset-backed Class B Notes due 2029 and CHF 6,100,000 1.375 per cent. asset-backed Class C Notes due 2029. The Notes which are backed by a portfolio of Swiss auto lease assets originated by Multilease AG are listed on the SIX Swiss Exchange. The transaction which closed on 27 February 2020 constitutes the fourth auto lease securitisation transaction of Multilease AG following an auto lease securitisation transaction on 16 December 2019, on 28 November 2017 and its debut auto lease securitisation transaction on 13 April 2017 in all of which NKF acted as adviser to the Arrangers and the Managers.
The NKF team was led by Capital Markets partner Daniel Bono, working with partner Markus Kronauer (Tax) and senior associate Christine Hohl (Capital Markets, Banking & Finance).